Signal Financial Federal Credit Union uses Visa Analytics Platform to direct marketing strategies while managing risk
Signal Financial Federal Credit Union serves nearly 23,000 customers across Washington D.C., Maryland and Virginia. Signal manages more than $400 million in assets, delivering forward-thinking solutions that help members bank easier and faster.
Opportunity
Signal needed faster insights to help identify growth opportunities for its credit card portfolio and mitigate fraud.
Signal set a goal to drive credit card portfolio growth in 2024. To do so, they needed an analytics solution that could help them better understand cardholder spending behaviors and more effectively monitor the impact of promotional campaigns. Capturing more timely insights was essential to Signal’s ability to execute marketing initiatives and understand how to improve its portfolio growth potential.
Additionally, Signal wanted to enhance its risk management strategy and better understand transaction approval and decline rates.
Solution
Visa Analytics Platform empowered Signal to improve portfolio performance and mitigate risk.
Signal began utilizing Visa Analytics Platform in August 2023. The credit union’s business teams quickly took advantage of the Product and Portfolio and Cardholder Behavior Insights Pages, in addition to the Spend Analysis with Benchmarking Report to understand their performance and how Signal stacks up to its peers to help the credit union set growth goals.
Our experience with Visa Analytics Platform has been nothing short of remarkable. We are using its analytical superpowers from a business intelligence standpoint to quickly identify where the issues are, and where we have opportunities to drive growth.
Larry Esters
Card Services Manager, Signal Financial Federal Credit Union
Visa Analytics Platform helped Signal gain visibility into credit card portfolio performance and drive growth
To help meet its credit card portfolio growth goal, Signal first wanted to gain a better understanding of cardholder spending by location and amount, including identifying specific merchants where spending took place. Visa Analytics Platform served as a powerful complement to Signal’s existing data stack, providing fast access to granular insights that Signal was looking for.
Using the easily accessible month-over-month benchmarking insights in Visa Analytics Platform, Signal tracked performance toward its growth goals and reinforced that its strategy was working effectively, as Signal saw growth performance begin to outpace that of its peers.
When Signal leadership wanted to dive into detailed spending insights for a specific merchant, Larry Esters, Signal’s card services manager, quickly identified this information within Visa Analytics Platform.
By providing fast access to such insights, Visa Analytics Platform empowered Signal to 1) identify the relevant target audience for its marketing campaigns and 2) track the impact of these campaigns on card spend. This helped Signal identify a link between the campaigns and increased spending, and be more strategic in developing future reward campaigns.
Visa Analytics Platform helped Signal reduce fraud and declines
Visa Analytics Platform helped Signal take a proactive approach to reducing fraud. In January 2024, Signal used Visa Analytics Platform to identify an abrupt spike in fraud trend. Based on this insight, Signal adjusted its fraud rules and was able to reduce its fraud rate by 20bps the following month.
Signal uses new reporting capabilities within Visa Analytics Platform to help reduce fraud
Cardholder name verification via the Visa Account Name Inquiry (ANI) functionality can help reduce fraud and authorized push payment scams. Signal has begun using Visa Analytics Platform’s new ANI reporting feature to view the number of transactions received with ANI request and the breakdown of those requests by Full Match, Partial Match, No Match, and Not Available.
Results
Signal grew revenue and mitigated fraud loss with Visa Analytics Platform
20bps decline in fraud in one month after proactively identifying and addressing fraud trends
On track to meet goal and capture projected growth in credit card portfolio
To learn more about Visa Analytics Platform:
Contact your Visa Account Executive
Fast access to granular, merchant-level insights
More efficient reporting to evaluate performance
Email us at
VisaAnalyticsPlatform@visa.com